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Dexus acquires $50m Melbourne logistics facility

Dexus Property Group has acquired an industrial park in the western Melbourne suburb of Braeside for $50.6 million. The group expects to see a significant uplift on its investment, with this acquisition coming at the end of a $1.1 billion acquisition spree.
The Braeside facility is a 40,554sq m prime-grade logistics facility with a 12.3 year weighted average lease expiry. It showed a core market yield of 6.09 per cent.

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